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borrowings for constituting audit committee u/s 177

vicky (guntur) (11 Points)

30 August 2017

what is the ceiling limit w.r.t. borrowings of unlisted public companies, whether aggregate borrowings of Rs.50crs need to constitute audit committee?

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6 Replies

Aman Kumar (6 Points)
Replied 30 August 2017

if any one condition is full filled or satisfied then the compant shall comply the law of sec 177 and company should form the audit comitee

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Aman Kumar (6 Points)
Replied 30 August 2017

yess any kind of loan exceeds 50 cr

Aman Kumar (6 Points)
Replied 30 August 2017

yess any kind of loan exceeds 50 cr

Law Aspire (CS) (755 Points)
Replied 05 September 2017

Private Public companies Both or only public limited companies

vicky (guntur) (11 Points)
Replied 05 September 2017

consider a case where rest of the conditions as to share capital and turnover are not satisfied, whether such public company (not being a listed company) whose borrowings is exactly rs.50 crores is obligated to constitute an audit committee u/s 177 read with relevant rules? the fact that the borrowings by company is exactly 50 crores (neither exceeding nor lesser than) should be considered .....